Economics Music Video Contest: Markets Promote Peace

As a professor, I am a fan of rigorous economic research, but I am also a fan of helping students learn about how important economics is in an engaging way. John Papola did an excellent job with the Keynes Versus Hayek music videos (especially the second one with yours truly), and over the past couple years I have had students make economics music videos. Think it is impossible to have music videos about Supply and Demand or Economic Value is Subjective? Think again! The results of the 2012 Supply and Demand Music Video Contest and the 2013 Economic Value is Subjective Video Contest have been fantastic and have had more than 100,000 views on Youtube. See the winning entries below.

I am pleased to announce the 2014 Economics Music Video Contest on Markets Promote Peace. Winners get $2,500 and their professor gets $500. According to the great 19th century liberal, Richard Coben, markets help change a relationship between strangers from one of indifference, or even contempt, to one of mutual benefit. People who may not have cared about each other, now see the other party as an ally. Militarism, on the other hand, causes conflict. To Cobden an important, more humane, and more effective substitute for militarism in the international realm is the expansion of markets.